Sombre forecast for American newspapers

Monday 12 June 2006 07.43 EDT
First published on Monday 12 June 2006 07.43 EDT

The U.S. newspaper industry is likely to face a sombre second half of the year, with circulation and advertising revenue remaining under pressure, according to a report by Deutsche Bank analyst Paul Ginocchio. He casts doubt on any hopes of a major recovery for an industry that has seen share prices fall by 15% in the last year. Ginocchio made a similar forecast in January about the first six months. (Via news.yahoo.com)